Justin Bons
Founder & CIO of Cyber Capital, Crypto Researcher Since 2013
Algorand faces a major security-budget problem because of its supply cap. Within three years its security will depend purely on fees, yet the chain is currently a ghost town, leaving no incentive to stake given the opportunity cost. Supply caps are bad design; if they worked, bitcoin would lead in security, which it clearly does not today. x.com x.comÂ
Ether and Solana lack a path to profitability, which any sound investment should have, so severe underperformance is happening and will continue. x.comÂ
Zcash is running what amounts to an unlimited mint scam, and the timing alongside Mert's move to Dubai is oddly suspicious. x.comÂ
Algorand is serious technology at a silly price. It is a chain used by actual governments, carbon negative, with post-quantum security and real institutional adoption. x.comÂ
Ethereum's roughly $200 billion valuation is hard to justify for an asset without productivity, unless the burn rate skyrockets. That is the counter to @fede_intern's bullish case that Ethereum will win by getting cheaper, faster, post-quantum safe and better at quoting prices. x.comÂ
Movement Labs' Chapter 11 filing is one more group of grifters finally getting margin called, and the rest of the scammy, overvalued alt L1s will go the way of the dodo, same as Movement. x.comÂ
Tokenized Treasury exposure strengthens Algorand's real-world-asset case because institutions are exploring this kind of adoption. Midas launched its mTBILL token on Algorand, bringing exposure to US Treasury-backed financial products onto the network. x.comÂ
Solana is struggling to sell blockspace, a commodity racing to zero, while heavily diluting holders. At this year's rate, fees come to about $300M against roughly $2.4B of newly minted SOL, and fees are down about 79% year over year amid competition from Ethereum, Base, Hyperliquid, Near and others. SOL is not money either, so neither a profitable-chain nor a monetary-premium bull case holds. Nasdaq earns 17x what Solana does while buying back about twice as much and issuing no shares. x.com … Show more
Bitcoin and crypto have largely failed to evolve beyond vehicles for speculation after about 15 years, as @kingtutcap argues. Its digital gold role has been inconsistent, since it trades like a risk asset in panics rather than a safe haven, and most coins offer little beyond hopes of selling to someone else at a higher price. Bitcoin also serves largely as a backend for criminals to move money. x.com x.comÂ
Algorand's live quantum-resistant accounts give it protection against future threats while much of crypto is still preparing. Coinbase's quantum advisory council names it among the two best-positioned blockchains for the quantum era, and Falcon-1024 accounts are live on mainnet. x.comÂ
